Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Strategy Briefing

Cooking in Southeast Asian Kitchens: Innovations in Food and Appliances

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About This Report

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

With rising urbanisation and an ever-expanding middle-income segment, the Southeast Asian region will witness important changes to its consumption habits. This has implications for packaged food and consumer appliance companies with a stake in at-home cooking. This strategy briefing discusses key trends impacting the at-home meal journey in Southeast Asia through megatrends analysis and uncovers real world cases addressing these trends.

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Key Findings

The at-home meal journey is evolving with implications for markets worldwide and in Southeast Asia

With rising urbanisation and an ever-expanding middle-income segment, the Southeast Asian region will witness changes to consumption habits. This has important implications for packaged food and consumer appliance companies with a stake in at-home cooking.

Growth in disposable income opens up opportunities for packaged food and consumer appliances in the region, but high income disparity remains

In 2018, 32% of the world’s consumer disposable income came from Asia. Although China and India are powerhouses, Vietnam and the Philippines, for example, are among the fastest growth markets for disposable income over 2018-2030. However, high income inequality remains an issue in this diverse region indicating the need for a wide range of products at different price points to cater to vastly different groups of consumers.

Southeast Asian consumers striving for healthy, simplified and experiential living

Consumers in the region, like their wider Asia Pacific counterparts, desire healthy, simplified and experiential living. These aspirations are in line with key global megatrends such as healthy living, connected consumers, experience more and buying time, and it is up to firms to activate these aspirations in the context of the kitchen.

Despite awareness of global trends, local cooking habits and cultural preferences remain, presenting a challenge to firms seeking to tap into these megatrends

traditional options outside the home, making it challenging for them to adopt new food formats and cooking methods immediately. However, as these ongoing megatrends gradually become more salient to consumers in the region, firms that get in front of relevant propositions stand to benefit in the long run. Consumers in the region are culturally connected to food at home and to